Up 17% Off Its 52-Week Low, Is Nike’s Turnaround Finally Gaining Steam?
Nike (NYSE: NKE) may be the biggest and most well-known athletic wear company in the world, but its stock has plummeted over the past few years. It made a series of missteps that led to declining sales and losing some of its cachet, and it’s still struggling to get back to dominance.
The stock is a crushing 79% off its all-time high, but it’s up 17% from its 52-week low. Is the turnaround finally gaining steam? And, more importantly for investors, is now the time to buy?
Nike has been dealing with declining revenue for more than two years now, with some bright pockets. That’s a long stretch for what’s supposed to be the industry leader.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.